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ljcsgar25
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Municipal Bond Tax Exempt Interest Income

Is South Carolina Municipal Bond Tax Exempt Interest Income "exempt" from South Carolina income tax if that is my state of residence?  I entered all the state specific information, but did not see any adjustments to the SC tax forms.

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Municipal Bond Tax Exempt Interest Income

Yes, it should be SC exempt.

 

But if the SC state amount ended up being a small $$ amount, the change may not have been enough to affect the actual SC tax assessed.

_________________________

And a side note, in case you are overworking, you only break out the SC $$ and any US territories (like Puerto Rico, Guam etc)....the remainder is lumped together a "More than one state"  (or Multiple States if you are using Online software).

 

Example for an NC resident:

1099-DIV_TaxExempt_State_3_Desktop.png

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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